(Bloomberg) — China is taking a major step to open up sectors ranging from oil and gas to telecommunications and railways, easing market regulations and lowering financing costs for private companies.The government will offer more tax breaks and broaden incentives to more firms, according to a government statement published by the official Xinhua News Agency, which didn’t specify the industries.President Xi Jinping, who’s negotiating an agreement amid a trade war with the U.S., is seeking to increase China’s political clout and revive ancient trading routes under his “One Belt, One Road” initiative, spending heavily on infrastructure projects. The move will …read more
Source:: Yahoo Finance
